p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"SUI is a digital commodity that is emitted and transmitted through the operations of the delegated proofspan class="nobreak"-of-stake/span Sui Network, a decentralized network of computers that operates on cryptographic protocols. The Sui Network allows participants to exchange tokens of value called SUI./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Fund is an exchangespan class="nobreak"-traded/span fund (“ETF”) that seeks to achieve its investment objective primarily through managed exposure to SUI futures contracts that trade only on an exchange registered with the CFTC (“SUI Futures Contracts”), and cash, cashspan class="nobreak"-like/span instruments or highspan class="nobreak"-quality/span securities that serve as collateral to the Fund’s investments in SUI Futures Contracts (“Collateral Investments”). In this manner, the Fund seeks to provide investment results that correspond to twice the performance of the price of SUI for a single day./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Fund does not invest directly in SUI. Instead, the Fund seeks to benefit from increases in the price of SUI Futures Contracts. Under normal circumstances, the Fund will invest at least 80% of the value of its net assets (plus borrowings for investment purposes) in SUIspan class="nobreak"-Linked/span Instruments. For purposes of this policy, “SUIspan class="nobreak"-Linked/span Instruments” means (i) SUI Futures Contracts; (ii) shares of other SUIspan class="nobreak"-linked/span exchangespan class="nobreak"-traded/span investment products not registered under as investment companies (“SUIspan class="nobreak"-Linked/span ETPs”) under the Investment Company Act of 1940, as amended (the “1940 Act”); (iii) shares of other investment companies registered under the 1940 Act that invest in similar assets to those in which the Fund may invest (“Other Investment Companies”); (iv) exchange traded options on shares of Other Investment Companies or shares of SUIspan class="nobreak"-Linked/span ETPs; and (v) swap agreement transactions that reference SUI, SUI Futures Contracts, SUIspan class="nobreak"-Linked/span ETPs, Other Investment Companies, or SUIspan class="nobreak"-referenced/span indexes. Certain SUIspan class="nobreak"-Linked/span Instruments, such as SUIspan class="nobreak"-Linked/span ETPs or options thereon, are currently unavailable for investment, though are expected to become available in the future./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"For the purpose of the Fund’s investment objective, under normal circumstances, the Fund will use the price of SUI that is reflected in the next, or second to next, expiring SUI Futures Contract. If the Fund invests in other SUIspan class="nobreak"-Linked/span Instruments, the value of SUI will be determined by an average of how SUI is valued in the financial instruments in which the Fund invests./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The investment adviser to the Fund and the Subsidiary is Volatility Shares LLC (the “Adviser”). The Adviser oversees the Fund and implements the dayspan class="nobreak"-to-day/span portfolio management responsibilities for the Fund. In serving as investment adviser to the Fund, the Adviser does not conduct conventional investment research or analysis or forecast market movement or trends./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Fund is classified as a “nonspan class="nobreak"-diversified/span company” under the 1940 Act. The Fund will not concentrate its investments in securities of issuers in any industry or group of industries, as the term “concentrate” is used in the 1940 Act, except that the Fund may invest more than 25% of its total assets in investments that provide exposure to SUI and/or SUI Futures Contracts./p p class="H3" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:left;text-indent:0;widows:1;margin-top:12pt;"span class="BoldItalic" style="font-style:italic;font-weight:bold;"SUI Futures Contracts/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"In order to obtain 2x daily exposure to SUI, the Fund intends to typically enter into cashspan class="nobreak"-settled/span SUI Futures Contracts as the “buyer,” except as detailed below. In simplest terms, in a cashspan class="nobreak"-settled/span futures market the counterparty pays cash to the buyer if the price of a futures contract goes up, and buyer pays cash to the counterparty if the price of the futures contract goes down. In order to maintain its 2x daily exposure to SUI, the Fund intends to exit its futures contracts as they near expiration and replace them with new futures /pp class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"contracts with a later expiration date. Futures contracts with a longer term to expiration may be priced higher than futures contracts with a shorter term to expiration, a relationship called “contango”. When rolling futures contracts that are in contango the Fund will close its long position by selling the shorter term contract at a relatively lower price and buying a longerspan class="nobreak"-dated/span contract at a relatively higher price. The presence of contango will adversely affect the performance of the Fund. Conversely, futures contracts with a longer term to expiration may be priced lower than futures contracts with a shorter term to expiration, a relationship called “backwardation”. When rolling long futures contracts that are in backwardation, the Fund will close its long position by selling the shorter term contract at a relatively higher price and buying a longerspan class="nobreak"-dated/span contract at a relatively lower price. The presence of backwardation may positively affect the performance of the Fund. Further, the returns of the Fund’s SUI Futures Contracts may differ from that of SUI due to the divergence in prices or the costs associated with investing in futures contracts, which may negatively impact the Fund’s returns./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Fund invests in SUI Futures Contracts indirectly via the Subsidiary. The Subsidiary and the Fund will have the same investment adviser and investment objective. The Subsidiary will also follow the same general investment policies and restrictions as the Fund. Except as noted herein, for purposes of this Prospectus, references to the Fund’s investment strategies and risks include those of the Subsidiary. The Fund complies with the provisions of the 1940 Act governing investment policies and capital structure and leverage on an aggregate basis with the Subsidiary. Furthermore, the Adviser, as the investment adviser to the Subsidiary, complies with the provisions of the 1940 Act relating to investment advisory contracts as it relates to its advisory agreement with the Subsidiary. The Subsidiary also complies with the provisions of the 1940 Act relating to affiliated transactions and custody. Because the Fund intends to qualify for treatment as a RIC under the Code, the size of the Fund’s investment in the Subsidiary will not exceed 25% of the Fund’s total assets at or around each quarter end of the Fund’s fiscal year. At other times of the year, the Fund’s investments in the Subsidiary will significantly exceed 25% of the Fund’s total assets. The Subsidiary’s custodian is U.S. Bank, N.A./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"If circumstances occur where market prices for SUI Futures Contracts were not readily available, the Fund would fair value its SUI Futures Contracts in accordance with its pricing and valuation policy and procedures for fair value determinations. Pursuant to those policies and procedures, the Adviser would consider various factors, such as pricing history; market levels prior to price limits or halts; supply, demand, and open interest in SUI Futures Contracts; and comparison to other major digital asset futures, such as bitcoin, ether and SUI prices in the spot market. The Adviser would document its proposed pricing and methodology, detailing the factors that entered into the valuation./p p class="H3" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:left;text-indent:0;widows:1;margin-top:12pt;"span class="BoldItalic" style="font-style:italic;font-weight:bold;"SUI, the Sui Blockchain and the Sui Network/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"SUI is a digital commodity that is emitted and transmitted through the operations of the delegated proofspan class="nobreak"-of-stake/span Sui Network, a decentralized network of computers that operates on cryptographic protocols. The Sui Network allows participants to exchange tokens of value called SUI. As of April 2026, SUI had a market capitalization of approximately $3.7span class="nobreak" /spanbillion./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"Transactions of SUI are processed by a distributed network of computers called validators, and recorded on the Sui Blockchain, a secure digital ledger where all SUI transactions are recorded. These validators are rewarded with SUI for their efforts. No single entity owns or operates the Sui Network or manages the Sui Blockchain. Instead, the infrastructure is collectively maintained by a decentralized community of validators./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"SUI can be used to pay for goods and services, including to send transactions on the Sui Network, or it can be converted to fiat currencies, such as the U.S. dollar. The primary goal of the Sui Network, however, is to provide an openspan class="nobreak"-source/span, scalable, and efficient decentralized platform that supports decentralized applications and smart contracts, which are selfspan class="nobreak"-executing/span computer programs stored on a blockchain that automatically carry out the terms of an agreement between parties once predetermined conditions are met./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"Unlike centralized systems, no single entity controls the Sui Network. Instead, a network of independent validators verifies transactions and reaches consensus using a delegated proofspan class="nobreak"-of-stake/span mechanism, ensuring security and trustless operations. Each transaction on the Sui Blockchain is validated by the network’s validators, which participate in the consensus process. SUI token holders elect the validators that participate in the consensus process by delegating tokens to them./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"Unlike the proofspan class="nobreak"-of-work/span mechanism used by bitcoin, which relies on miners solving computational puzzles, delegated proofspan class="nobreak"-of-stake/span allows validators to secure the network based on the number of SUI they hold and stake. This system improves energy efficiency while maintaining robust security. Validators on the Sui Network play a critical role in maintaining the blockchain’s integrity, ensuring that each block follows the protocol’s rules and contains valid transactions. Validators must maintain a minimum amount of staked SUI to participate in the “active set” of validators that verify network activity in exchange for a reward. The minimum threshold is set dynamically./pp class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Sui Network distributes 10,000 units of voting power across its active validator set. To participate in the active set, a validator must achieve three units or more of voting power. The formula to determine a given validator’s voting power is the validator’s SUI stake divided by the total SUI staked to the network. The outcome of this calculation is multiplied by 10,000./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"SUI was initially conceptualized and developed by a team of blockchain experts to provide a nextspan class="nobreak"-generation/span blockchain solution with native support for smart contract capabilities, and with an objectspan class="nobreak"-centric/span data model that enables parallel transaction execution./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"SUI has three primary uses within the Sui Network: (1) it is used to pay for transactions on the network, with transaction fees split between reward payments to validators and a data storage fund; (2) it can be staked to secure the network and earn rewards, as described above; (3), it allows individuals to participate in governance decisions for the Sui Network./p p class="H3" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:left;text-indent:0;widows:1;margin-top:12pt;"span class="BoldItalic" style="font-style:italic;font-weight:bold;"Collateral Investments/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Fund will invest assets in Collateral Investments. The Collateral Investments may consist of highspan class="nobreak"-quality/span securities, which include: (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) investment companies registered under the 1940 Act that invest in highspan class="nobreak"-quality/span securities; and/or (3) corporate debt securities, such as commercial paper and other shortspan class="nobreak"-term/span unsecured promissory notes issued by businesses that are rated investment grade or determined by the Adviser to be of comparable quality. For these purposes, “investment grade” is defined as investments with a rating at the time of purchase in one of the four highest categories of at least one nationally recognized statistical rating organizations (span class="Italic" style="font-style:italic;font-weight:normal;"e.g./span, BBB- or higher from Samp;P Global Ratings or Baa3 or higher from Moody’s Investors Service, Inc.)./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"The Collateral Investments are designed to provide liquidity, serve as margin, or otherwise collateralize the Subsidiary’s investments in SUIspan class="nobreak"-Linked/span Instruments. The Fund expects that it will primarily invest its assets, and that the Subsidiary will primarily invest its assets, in Collateral Investments that are “securities,” as such term is defined under the 1940 Act./p p class="H3" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:left;text-indent:0;widows:1;margin-top:12pt;"span class="BoldItalic" style="font-style:italic;font-weight:bold;"Other Investments/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"In order to help the Fund meet its daily investment objective by maintaining the daily desired level of leveraged exposure to SUI, maintain its tax status as a regulated investment company on days in and around quarterspan class="nobreak"-end/span, help the Fund maintain its desired exposure to SUI Futures Contracts when it is approaching or has exceeded position limits or accountability levels, or because of liquidity or other constraints, the Fund may invest in the following:/p p class="H6_indent" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:left;text-decoration:underline;text-indent:0;widows:1;margin-top:12pt;"span class="CharOverride-4" style="text-decoration:underline;"Reverse Repurchase Agreements/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"The Fund may invest in reverse repurchase agreements which are a form of borrowing in which the Fund sells portfolio securities to financial institutions and agrees to repurchase them at a mutually agreedspan class="nobreak"-upon/span date and price that is higher than the original sale price, and use the proceeds for investment purchases./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"As a result of the Fund repurchasing the securities at a higher price, the Fund will lose money by engaging in reverse repurchase agreement transactions./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"As noted above, because the Fund intends to qualify for treatment as a RIC under the Code, the size of the Fund’s investment in the Subsidiary will not exceed 25% of the Fund’s total assets at or around each quarter end of the Fund’s fiscal year (the “Asset Diversification Test”). At other times of the year, the Fund’s investments in the Subsidiary will significantly exceed 25% of the Fund’s total (or gross) assets./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"When the Fund seeks to reduce its total assets exposure to the Subsidiary, it may use the shortspan class="nobreak"-term/span Treasury Bills it owns (and purchase additional Treasury Bills as needed) to transact in reverse repurchase agreement transactions, which are ostensibly loans to the Fund. Those loans will increase the gross assets of the Fund, which the Adviser expects will allow the Fund to meet the Asset Diversification Test. When the Fund enters into a reverse repurchase agreement, it will either (i) be consistent with Section 18 of the 1940 Act and maintain asset coverage of at least 300% of the value of the reverse repurchase agreement; or (ii) treat the reverse repurchase agreement transactions as derivative transactions for purposes of Rule 18fspan class="nobreak"-4/span under the 1940 Act (“Rule 18fspan class="nobreak"-4/span”), including as applicable, the valuespan class="nobreak"-at-risk/span based limit on leverage risk./p p class="H6_indent" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:left;text-decoration:underline;text-indent:0;widows:1;margin-top:12pt;"span class="CharOverride-4" style="text-decoration:underline;"SUI-Linked ETPs/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"The Fund may invest in shares of SUIspan class="nobreak"-Linked/span ETPs, which are exchangespan class="nobreak"-traded/span investment products that are not registered under the 1940 Act that derive their value from a basket of spot SUI, and trade intraspan class="nobreak"-day/span on a national securities exchange. SUIspan class="nobreak"-Linked/span ETPs are passively managed and do not pursue active management investment strategies, and their sponsors do not actively manage the SUI held by the ETP. This means that the sponsor of the ETP does not sell SUI at times when its price /pp class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"is high or acquire SUI at low prices in the expectation of future price increases. Although the shares of a SUIspan class="nobreak"-Linked/span ETP are not the exact equivalent of a direct investment in SUI, they provide investors with an alternative that constitutes a relatively costspan class="nobreak"-effective/span way to obtain exposure to SUI through the securities market./p p class="H6_indent" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:left;text-decoration:underline;text-indent:0;widows:1;margin-top:12pt;"span class="CharOverride-4" style="text-decoration:underline;"Other Investment Companies/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"The Fund may invest in shares of Other Investment Companies, that is, shares of investment companies registered under the 1940 Act that invest in similar assets to those in which the Fund may invest./p p class="H6_indent" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:left;text-decoration:underline;text-indent:0;widows:1;margin-top:12pt;"span class="CharOverride-4" style="text-decoration:underline;"Exchange-traded option contracts on shares of Other Investment Companies or shares of SUI-Linked ETPs./span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"The Fund may invest in exchangespan class="nobreak"-listed/span option contracts on shares of Other Investment Companies or shares of SUIspan class="nobreak"-Linked/span ETPs, each of which invest in similar assets to those in which the Fund may invest. An option is a contract that gives the purchaser of the option, in return for the premium paid, the right to buy shares of an investment company, from the writer of the option (in the case of a call option), or to sell shares of the investment company to the writer of the option (in the case of a put option) at a designated price during the term of the option. The premium paid by the buyer of an option will reflect, among other things, the relationship of the exercise price to the market price and the volatility of the shares of the investment company, the remaining term of the option, supply, demand, interest rates and/or currency exchange rates. The Fund may utilize “American” style options or “European” style options. American style options are exercisable on any date prior to the expiration date of the option contract. In contrast, European style options are exercisable only on the expiration date of the option contract./p p class="H6_indent" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:left;text-decoration:underline;text-indent:0;widows:1;margin-top:12pt;"span class="CharOverride-4" style="text-decoration:underline;"Swaps that reference SUI, SUI Futures Contracts, SUI-Linked ETPs, or Other Investment Companies./span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-left:36pt;margin-top:8pt;"Swap contracts are transactions entered into primarily with major global financial institutions for a specified period ranging from a day to more than one year. In a swap transaction, the Fund and a counterparty will agree to exchange or “swap” payments based on the change in value of an underlying asset or benchmark. For example, the two parties may agree to exchange the return (or differentials in rates of returns) earned or realized on a particular investment or instrument. In the case of the Fund, the reference asset can be SUI, shares of SUIspan class="nobreak"-Linked/span ETPs, SUI Futures Contracts, or SUIspan class="nobreak"-referenced/span indexes./p